Corp. Compliance
This acronym is commonly referred to in defining privacy rights in California.
What is CCPA?
CA Consumer Privacy Act
The IRS term that forms the basis for tax calculations.
What is AGI?
Adjusted Gross Income
The agency authorized by the U.S. Congress to regulate the financial reporting practices of most public corporations
What is the SEC?
Securities Exchange Commission
The largest Life Insurance Trade group in the US.
What is ACLI?
American Council of Life Insurers
Enterprise Risk Management Reporting System
What is IRP?
Integrated Risk Platform
The PL department responsible for Cyber-Security
What is EISO?
Enterprise Information Security Office
The office of the U.S. Department of the Treasury administers the economic sanction programs adopted by the U.S. executive and legislative branches.
What is OFAC?
Office of Foreign Assets Control
The charge deducted from a Life Insurance Policy to cover the insurance company costs and expenses.
What is COI?
Cost of Insurance
The voluntary organization of the chief insurance regulatory officials in the U.S.
What is the NAIC?
National Association of Insurance Commissioners
The department responsible for negotiating contracts with, managing and interacting with all 3rd party service providers.
What is VLM?
Vendor Lifecycle Management
The 2nd line of defense function that supplements internal audit.
What is CRT?
Compliance Review Team
The primary state regulatory authority over insurance business.
What is a DOI?
Department of Insurance
The line of business that shifts an employer's pension liabilities to an insurance company.
What is PRT?
Pension Risk Transfer
The leading association representing regulated funds globally, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and unit investment trusts (UITs).
Investment Company Institute
The enterprise resource planning (ERP) finance solution that integrates Treasury, Accounts Payable, General Ledger, and Reporting across a common database.
What is TIDES?
Transparent Integrated Data Enterprise Solution
The actual or apparent exercise of special influence or control in a business relationship that may inappropriately benefit an individual rather than the business they work for.
What is a COI?
Conflict of Interest
Accounting principle where costs of acquiring insurance are not recognized immediately, but capitalized and deferred over a period of years.
What is DAC?
Deferred Acquisition Cost
The minimum amount of capital that an insurance company needs to support its overall business operation considering its size and risk profile and to withstand adverse conditions.
What is RBC?
Risk Based Capital
What is SIFMA?
Securities Industry and Financial Markets Association
The program defining common standards for due diligence and managing vendor risk.
What is TPRM?
Third Party Risk Management
The officer responsible for ensuring that a company is effective and efficient in identifying, preventing, detecting and correcting noncompliance with applicable laws and regulations.
What is a CCO?
Chief Compliance Officer
The standard framework of guidelines for financial accounting including the standards, conventions, and rules which accountants follow in recording, summarizing, and reporting financial data.
What is GAAP?
Generally Accepted Accounting Principles
The Government Agency responsible for prosecuting criminal actions by individuals and businesses.
What is the DOJ?
Department of Justice
A not-for-profit organization authorized by Congress to protect America's investors by making sure the broker-dealer industry operates fairly.
What is FINRA?
Financial Industry Regulatory Authority
The project replacing Sarbanes-Oxley Standards
What is ICFR?
Internal Controls over Financial Reporting